Clothing & Shoes
The latest news, updates and analysis on the clothing and shoes segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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May- 2022 -10 May
Adidas Q1 profits drop almost 40%
Adidas has reported its operating profits dropped 38% year-on-year from €704m (£602.71m) to €437m (£374.13m) in the first quarter ending 31 March 2022 (Q1), due to its operating margin dropping 5% to 8.2%. Income-before-tax also dropped 38.5% to €411m (£351.87m) in Q1, compared to €669m (£572.75m) in the same period…
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10 May
Schuh opens distribution centre in Ireland
Schuh has announced the opening of a 49,000 square foot distribution centre in Ireland. The new facility at northwest business park, Dublin, has led to the creation of 25 additional job roles. The Republic of Ireland distribution centre will serve Irish and European customers, further increasing schuh’s omnichannel capabilities, ensuring…
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10 May
Cost of living crisis begins to hamper consumer spending
Spending on essential items dropped to 18.1% in April, compared to 17.4% in March, as inflation and rising living costs are starting to impact the retail sector. Research from Barclaycard found this was largely due to spending on fuel falling from a record 26.1% increase last month to 23% in…
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6 May
Sports Direct opens £10m Birmingham flagship
Sports Direct is opening its latest flagship store in the heart of Birmingham with a 60,000 square feet concept space that has seen an investment of over £10m. Located on New Street, Sports Direct Birmingham is set across four floors and it will be the first flagship to house USC,…
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5 May
Zalando revenues dip despite rise in active customers
Zalando has revealed that its revenues for the period dipped 1.5% YOY to €2.2bn (£1.8bn) as it transitioned to a platform model, despite seeing its active customers rise 5% to 49 million. It also revealed that Gross Merchandise Volume (GMV) increased 1% to €3.2bn (£2.7bn) in the first quarter, which…
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5 May
Next Q1 sales surge 22% despite online hit
Next plc has reported that its full price sales surged 22% year-on-year for the 13 weeks to 30 April (Q1), and 21% compared to pre-Covid levels, which is in line with expectations. However, total online sales in the UK fell 11% compared to the same period last year, although this…
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4 May
Boohoo profits sink 94% to £7.8m
Boohoo has announced its profit before tax sunk 94% to £7.8m in 2022, compared to £124.7m in 2021, according to its final results for the year ended 28 February 2022. The group said this is due to “lower growth” than anticipated and a “significant” increase in logistics costs. The group…
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4 May
Joules CEO steps down as group warns of market challenges
Joules has announced that its CEO, Nick Jones, will step down from his role during the first half of the group’s next financial year following three years at the helm, as the group warned of subdued trading amid challenging market conditions. The group said that since joining the business in…
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Apr- 2022 -29 April
Victoria’s Secret and PINK Beauty launches on Amazon
Victoria’s Secret and Co. has launched its Victoria’s Secret Beauty and Pink Beauty products in Amazon’s store, with approximately 120 different products available and eligible for delivery with Prime. The assortment of products will also be available in the Victoria’s Secret storefront. Victoria’s Secret said the collaboration is the latest…
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27 April
Ted Baker receives ‘number of bids’ as sales process continues
The board of Ted Baker PLC has announced it has received a number of non-binding proposals from potentially interested parties. In the next step in the formal sale process, Ted Baker is inviting a “focused selection” of such parties to enter into a due diligence process. As such, the company…
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